Cecep Solar concludes convertible bond issuance, oversubscribed

Cecep Solar Energy (SZSE:000591) has successfully completed its issuance of convertible bonds to unspecified parties, according to an announcement released on April 3, 2025. The offering, approved by the China Securities Regulatory Commission, saw a total issuance of 29,500,000 bonds, each with a face value of CNY100, raising a total of CNY 2,950,000,000. Existing shareholders were given priority in the allocation, subscribing to 18,693,375 bonds, accounting for 63.37% of the total issuance. The remaining bonds were offered online to the public. The online offering was oversubscribed, with investors subscribing for 10,533,400 bonds worth CNY 1,053,340,000.00. However, 273,220 bonds were not paid for, amounting to CNY 27,322,000.00 in forfeited subscriptions. China Securities will transfer the bond subscription funds to the issuer on April 3, 2025.